JACK - Jack in the Box loses Deutsche Bank as a bull ahead of earnings

Deutsche Bank pulled back on its view of Jack in the Box ( NASDAQ: JACK ) with a downgrade to a Hold rating from Buy.

Analyst Brian Mullan and team stepped to the sidelines on the restaurant stock in front of JACK's FQ4 earnings results due out in about two weeks.

"Overall, this is a Risk Reward and Valuation call, and there is not much more to it than that. This is primarily a function of the stock approaching our price target of $88 (which is unchanged with this note) and our desire to maintain discipline and balance across our ratings, rather than having an actual call here."

Deutsche Bank was one of 10 firms to reduce their FQ4 EPS estimate on JACK in the last 90 days compared to 7 firms that raised their EPS estimate. The consensus rating on Wall Street on JACK is Hold.

Shares of JACK have gained 10% over the last six weeks but are still down almost 5% for the year.

The Seeking Alpha Quant Rating on JACK has been locked on Hold for all of 2022.

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